Lesson Plan

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Lesson Plan
Grade: Date: 17/01/2026
Subject: Business
Lesson Topic: interactions between demand, supply and price
Learning Objective/s:
  • Describe the law of demand and supply and how they are represented graphically.
  • Explain how equilibrium price and quantity are determined using linear demand and supply equations.
  • Analyse the impact of shifts in demand or supply on equilibrium.
  • Apply the price mechanism to predict market adjustments after a shock.
  • Solve a basic linear demand‑supply problem to find equilibrium price and quantity.
Materials Needed:
  • Projector and screen
  • Whiteboard and markers
  • Printed worksheets with demand‑supply graphs
  • Calculator or spreadsheet software
  • Handout of shift‑factor table
  • Graph paper
 Introduction:
Begin with a quick poll: ask students what happens to the price of a popular smartphone when a new model is released. Link this to their prior knowledge of how buyers and sellers interact. Explain that today they will uncover how demand, supply and price move together and how to predict the new market equilibrium.
Lesson Structure:
  1. Do‑now (5’) – Students sketch a simple demand curve on graph paper based on a given scenario.
  2. Mini‑lecture (10’) – Define demand, supply, equilibrium; derive linear equations and the equilibrium price formula.
  3. Guided practice (12’) – Work through the example Qd=500‑5P, Qs=100+3P, solving for P* and Q* together.
  4. Interactive activity (10’) – In pairs, use the shift‑factor handout to predict how a change (e.g., increase in consumer income) moves the curves; plot shifts on the board.
  5. Check for understanding (8’) – Quick clicker quiz: identify direction of curve shifts and resulting price change.
  6. Summary & reflection (5’) – Recap key points; students write one takeaway on a sticky note.
Conclusion:
Summarise that equilibrium results from the interaction of demand and supply and that shifts move the market to a new price‑quantity point. Ask students to complete an exit ticket describing a real‑world example of a demand shift. For homework, assign a short problem set to calculate equilibrium after a given shift.